I am trying to refinance my car. Help?

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I currently have a loan with a rate of 16.75% and am paying 316.90 per month for another 48 months. I have applied for a (RF) and was approved with a rate of 10.83%. The payment would be 281.62 but the length of the loan would be lengthened to 60 months. Is this a loan I should take or would the extra year hurt me in the long run? Should I stay with my current company of (RF)? Any advice from a credible source would be helpful. Thanks

I am trying to refinance my car. Help?

If you stick with your current loan you will be paying 48*316.90 = $15211

If you refinance you will be paying 60*281.62 = $16897

Stick with your current loan or see if you can get another 48 month loan at a lower rate.

I am trying to refinance my car. Help?

Uggh. How much do you owe?

Can you flip the loan onto a low rate credit card and transfer the balance around?

Check to see what processing fee's you are being charged. You may want to sell the car for as much as possible and get something cheaper until you rebuild credit/account balance.

I am trying to refinance my car. Help?

Don't do it. You will be paying more interest because the loan will be longer. Plus the car will be 5 or more years old, so it won't even be worth much at that point. Waste of money!

I am trying to refinance my car. Help?

the refi is up to 60 months-take the rate on shorter terms.

I am trying to refinance my car. Help?
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